🔴What's the difference between liquidation and bankruptcy?

🔴Are they the same thing? The short answer is no and here is why.

🔴Both are legal processes that happen when debts are left unpaid.

✅Bankruptcy is for a private individual

✅Liquidation is an insolvency process that a company undertakes.

🔴If I liquidate my company does that mean I’m also bankrupt?

✅No, a company liquidation has no bearing on your personal credit file whatsoever.



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